News & Insights

COVID-19 Updates

Our team will continue to monitor the situation and our focus remains on the health and welfare of our employees, customers and community partners. We’ll continue to address the needs of each branch/office and adjust business operations as needed and keep you updated with new information on this page.

5.20.2020

Update: May 20, 2020 │ WA Unemployment Fraud Alert

Recently, we were made aware of a large-scale fraud ring exploiting the COVID-19 crisis to commit large-scale fraud against the state’s unemployment insurance program.

Over the course of the past couple weeks, we have received quite a few calls from customers sharing their identities have been compromised by fraud claims through Washington’s Employment Security Department.

If you’re a customer who believes your identity has been used to make a false unemployment claim, we recommend you call us so that we can flag your bank account(s) to protect against any additional fraud. We also advise you to monitor your accounts regularly, including using CardValet to get timely transaction alerts and to quickly manage controls on the use of your debit card(s).

In addition, you might consider checking your credit to ensure no credit has been authorized without your knowledge and/or permission. Another suggested best practice if your identity has been compromised is temporarily freezing your credit through the three major credit bureaus (Equifax, Experian and TransUnion) so credit cannot be extended without your approval.

If you have questions or need support, please call us at (360) 754-3400. Thank you!

Beginning on Tuesday, May 26 all branches will extend their hours, operating Monday through Friday from 9:30 a.m. to 5:30 p.m. Branch lobbies will remain closed; however, we will continue to service customers using our drive-thru only service model.

To help answer your question and assist you with your banking needs, our team will still be available over the phone (360-754-3400) and via email (customerservice@olyfed.com) from 8:30 a.m. to 5:30 p.m. Monday through Friday.

Please remember, you can do almost all your banking without having to do it in person. With our digital tools and other banking resources, you can do almost everything online.

Thank you for your patience and understanding as we strive to provide the highest level of service and support while keeping you and our team healthy and safe. We’re grateful to have you as a customers!

Update: March 27, 2020 │Limited Branch Operations

As our state’s stay at home order continues, we are experiencing limited staff resources as well as lighter customer transaction volumes at our branches.

In light of these circumstances, beginning on Monday, March 30 all of our branches will continue using our drive-thru only service model; however, our operating hours will change to 10 a.m. to 4 p.m. Monday through Friday.

To help answer your question and assist you with your banking needs, our team will still be available over the phone (360-754-3400) and via email (customerservice@olyfed.com) from 8:30 a.m. to 5:30 p.m. Monday through Friday.

Please remember, you can do almost all your banking without having to do it in person. With our digital tools and other banking resources, you can:

Transfer money between accounts at various financial institutions using TransferNow

We are so grateful for your flexibility and understanding during this unusual time. From our OlyFed family to yours, we hope you’re well. Thank you for all the kindness and consideration you continue to share with us. We’re thankful for you.

Update: March 24, 2020 │Financial Assistance Information
We understand current affairs are creating a number of challenges in everyone’s lives, including financial stress. We want to reassure you, we’re here to help you during these difficult times. Acknowledging everyone’s situation is unique, we are here to work with you one-on-one to develop a plan that works best for everyone involved.

From experiencing the loss of income to having trouble making loan payments, we’re here to create individual solutions for you. If you’ve been impacted by COVID-19 and you’re having trouble managing your loan payments, we might be able to help in the following ways:

Waiving late fees

Deferring payments

Modifying the terms of your loan

Temporarily pausing credit reporting

Moving to interest only payments in the short-term (For small businesses)

In addition, we recognize a loss of income during this pandemic could affect deposit accounts as well. Our team of knowledgeable and caring bankers are here to work with you on an individual basis and could potentially help during this time by waiving:

Overdraft fees

Early withdrawal penalties

PopMoney fees (Person-to-Person payments using your smartphone)

TransferNow fees (Move money between accounts held at various financial institutions)

These are just some of the ways we could possibly assist. Please contact us today and we can connect you with one of our team members who can begin developing a personalized response plan for you. Thank you for your trust and confidence and for choosing OlyFed as your financial partner. We’re grateful for you.

Update: March 24, 2020 │Customer Service Message Regarding Mortgage LoansAs a result of current market conditions, our response to mortgage applications, phone calls and inquiries may be delayed because of a larger than normal volume of requests, along with limited staffing. We appreciate your patience and understanding. Please know we are doing our best to serve you and provide the highest quality customer experience possible.

Update: March 23, 2020 │Update Regarding Governor’s Stay at Home Order

This evening Governor Jay Inslee announced a stay at home order for Washington residents. The Governor instructed people to stay home except when traveling for essential work, buying food and similar supplies or returning to their own homes.

Banking is one of the essential services that remain operational to support the daily functions of Washington households. As a valued customer, we remain open and committed to providing you with the highest quality financial services and support.

We continue to operate with limited staff; making every effort to ensure all of our locations remain open to serve you. Should staffing resources become further limited, we may need to consolidate our locations and/or hours of operation.

For your health and the well-being of our staff, we continue to operate using our drive-thru only service model. We ask for your help and strongly recommend you limit in-branch appointments to critical services at this time.

For the most up-to-date information, be sure to visit our COVID-19 Resources page. Please remember all the digital banking services and resources available to you. You can:

We appreciate your flexibility and understanding during these unprecedented times. If you have any questions, we can be reached over the phone at (360) 754-3400 or via email at customerservice@olyfed.com.

Update: March 23, 2020 │Fraud Prevention Tips

As current events continue to evolve and we all adapt with many new changes in our daily lives, we wanted to share a few helpful reminders and tips.

Unfortunately, during times like these there are criminals who try to take advantage of people’s fears and uncertainty by creating scams to gather sensitive financial information. It’s our goal to provide you with tools and resources to be vigilant in protecting your accounts.

Here are some tips to keep the scammers at bay:

We will not ask you to send us your specific account details via email. If you receive an email regarding your accounts at Olympia Federal Savings, contact us directly at (360) 754-3400.

As a safety precaution, don’t click on links from sources you don’t know.

For the most up-to-date information about COVID-19, please directly visit the CDC website. Be diligent in your practices and be cautious of emails claiming to be from the Centers for Disease Control and Prevention (CDC) or experts saying they have information about the virus.

Don’t respond to texts and emails about checks from the government. The details are still being worked out. Anyone who tells you they can get you money now, may not have your best intentions in mind. Be very cautious.

Know who you’re buying from. Online sellers may claim to have in-demand products, like cleaning, household, and health and medical supplies when, in fact, they don’t.

Ignore online offers for vaccinations. There currently are no vaccines or other prescription or over-the-counter products available to treat or cure the virus.

Hang up on robocalls. Don’t press any numbers. Scammers are using illegal robocallsto take advantage of people.

Do your homework when it comes to donations, whether through charities or crowdfunding sites. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.​

Remember to utilize tools like CardValet, which allow you to control your debit card right on your smartphone. Turn your debit card on or off when it’s needed. Set automatic alerts so you can instantly know about unusual or unauthorized card activity. Even set up location rules on where it can be used; including spending limits.

Please know that during these unsettling times, OlyFed remains strong and here to serve you. We’ve put together a COVID-19 Resources page for you on our website that provides useful and up-to-date information. If you have any questions, we can be reached over the phone Monday-Friday from 8:30 a.m. to 5:30 p.m. at (360) 754-3400 or via email at customerservice@olyfed.com.

Update: March 20, 2020 │Business Operations Update

Beginning on Monday, March 23rd, our Belfair Branch will be operating on limited business hours. The branch will be open Monday – Friday from 10 a.m. to 4 p.m. Please remember our digital banking resources and tools that are available for 24/7 banking support. We are also available over the phone Monday-Friday, 8:30 a.m. to 5:30 p.m. at (360) 754-3400. Thank you for your flexibility and understanding during these unprecedented times.

Update: March 17, 2020 │Customer & Community Resources

As we continue to receive calls and emails regarding resources for support and assistance in response to the current state of affairs in our community and across the globe, we wanted to be sure and put together some links to great information to help you, your organization or your family:

Update: March 13, 2020 │Temporary Adjustments to Business Operations
With our national, state and local governments declaring emergencies and all area school districts closing for an extended period of time we are experiencing limited staff availability along with concerns for the health and safety of our customers and employees. As a result, we are making some temporary adjustments to our business operations.

Beginning on Monday, March 16, all of our branches will offer drive-thru only support and services. Customers wanting to access a safe deposit box or meet with a banker in person will need to set up an appointment and should contact their local branch directly to make the necessary arrangements.

Please note that our Center for Business Banking, Commercial Lending and Wealth Management located at our Lacey Branch are also operating on an appointment only basis at this time and clients should contact OFS Financial Services or our Business Banking team to establish any in-person meetings.

As our communities continue to be impacted, we will assess the capacity and abilities of each individual branch to serve the needs of our customers. We will be sure to post information and updates to our website and social media channels as decisions are made. We apologize for any inconveniences and we appreciate your flexibility and understanding during this unusual time. It is our goal to continue to provide the highest quality customer care and support.

In the meantime, please remember that we can continue to serve your banking needs through several digital options. You can:

Due to the nature of the virus and for the well-being of our employees, customers and community members, we ask that anyone with symptoms please not visit our branches at this time. We are here to serve you over the phone, through secure email or through our digital banking tools noted above. We are grateful for your thoughtful and kind consideration.

Thank you for your trust and business. We look forward to continuing to serve your financial needs. Please take care.

Update: March 12, 2020│Loan Payment Questions & Assistance
Over the past few days, we’ve received questions from some of our Loan Customers inquiring with financial concerns should the Coronavirus continue to have a greater impact on our local economy.

We understand there may be instances in the near future where customers may find themselves facing financial difficulties. Please know, we are here to help and we encourage our customers who may be impacted to reach out to us to discuss how we might be of assistance.

We know each person and their circumstances are unique, so we will work with customers on an individual basis to help find a solution that will work best for everyone involved.

Update: March 5, 2020│The Precautions We’re Taking for Your Health & Safety
As concerns about the Coronavirus increase, we wanted to share what we’re doing here at OlyFed to proactively respond:

We’ve communicated with our employees about the symptoms of COVID-19 and advised our team if they are sick to stay home and to check-in with their health care provider for advice and support. In addition, we are asking everyone to take additional precautionary health and safety efforts to reduce potential exposure.

We have an Emergency Preparedness Policy to ensure we’re adequately equipped in the event of a local outbreak. Our team is meeting regularly to formulate response plans based on a number of possible scenarios.

As a standard operating procedure, all of our facilities are cleaned every evening to safeguard the health and well-being of our employees and customers. Part of those cleaning procedures include CDC recommended sterilizing measures such as disinfecting surfaces like counters, door handles, and touch screens. We have also instructed our employees to make cleaning touchpoints a high priority during the day and each office is equipped with hand sanitizer and cleaning products.

In the meantime, all of our branches remain open; however, please remember you can continue to: